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Ma’aden was formed by Royal decree in 1997 to facilitate the development of Saudi Arabia’s mineral resources and was originally wholly owned by the Saudi Government before 50% of its shares were floated on the Saudi Stock Exchange (Tadawul) in 2008.

Initially Ma’aden’s activities focused on expanding its active gold business which now includes five mines and over 11 million ounces of JORC compliant gold resources at operational and exploration sites.